- Baird analyst Joe Vruwink raised the firm's price target on Cadence Design Systems Inc CDNS to $168 from $160, implying a 15.9% upside, and reiterated an Outperform rating.
- The rating follows the company's strong Q2 results, raised guidance, and a CEO transition that he expects should be seamless.
- Price action: CDNS shares traded lower by 2.71% at $141.04 on the last check Tuesday.
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